Stephens Reaffirms Overweight Rating for Citizens Financial Group (NYSE:CFG)

Citizens Financial Group (NYSE:CFG)‘s stock had its “overweight” rating reissued by stock analysts at Stephens in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $53.00 target price on the bank’s stock. Stephens’ target price indicates a potential upside of 10.37% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Truist Financial increased their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, January 21st. DA Davidson increased their price target on shares of Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays increased their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler increased their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Compass Point increased their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and an average target price of $49.00.

Citizens Financial Group Stock Performance

Shares of CFG traded up $0.67 during mid-day trading on Wednesday, hitting $48.02. 250,575 shares of the company’s stock were exchanged, compared to its average volume of 3,671,270. Citizens Financial Group has a fifty-two week low of $30.24 and a fifty-two week high of $49.25. The firm has a market capitalization of $21.16 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.82 and a beta of 1.10. The business’s 50 day moving average is $45.79 and its two-hundred day moving average is $43.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. On average, equities analysts expect that Citizens Financial Group will post 3.94 earnings per share for the current year.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at $8,134,000. Versor Investments LP acquired a new position in shares of Citizens Financial Group in the 3rd quarter valued at $1,910,000. Nordea Investment Management AB boosted its holdings in shares of Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank’s stock valued at $217,781,000 after purchasing an additional 805,758 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Citizens Financial Group by 4.8% in the 3rd quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock valued at $28,368,000 after purchasing an additional 29,940 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Citizens Financial Group in the 3rd quarter valued at $590,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.